How to Fight for Your Financial Survival, Deaths Related to Covid19 Pandemic | Dr. Abdel Fahmy
My guest today is Dr. Abdel Fahmy, who is not only a doctor of 31 plus years but also an entrepreneur who gave us the lowdown of what we need to worry about, what we need to anticipate, and how we can pivot during this crisis. I appreciate Dr. Fahmy coming in.
We have this invisible enemy, this Covid-19 strain. I remember back in January, I came back from a conference in December or January and I saw you wheeling around these sterile wipes. I thought to myself whether Dr. Fahmy is really freaked out about this coronavirus? I mean, what were you seeing back in January?
Dr. Fahmy: Well, it was in January that China announced that they have a new coronavirus. And by the end of that month, China shut down Wuhan and started the quarantine. At the time, we did not think it was going to spread as it did. I too didn’t think so and I was merely taking precautions.
I remember we had SARS in 2002. The current virus is from the same family. They usually come from bats to animals and then animals to humans. Then it spreads fast. In 2002, the SARS virus didn’t come to us, it didn’t affect us back then. It is interesting that this new coronavirus hit us so hard. This new one lingers more, it has spikes on its body that attaches to your cells and it has an incubation period that fools people.
Matt: What advice would you give us to adapt to this pandemic?
Dr. Fahmy: We’re just going to have to adapt to the current circumstances. There are certain measures that strictly need to be a part of life. For instance, hand washing for 20 seconds, more hygiene, social distancing (maintaining six feet distance), wearing masks, etc. You also need to work to improve your immunity.
Matt: Let’s talk about business. How is the pandemic going to affect business?
Dr. Fahmy: Wow, it’s going to be something else. Many businesses like hotels, bars, restaurants, gyms have had to close. This has hampered businesses horribly. The opening up of these activities will not be sudden. They will see a gradual opening. There will be lots of restrictions initially and these will be lifted slowly over time.
In the meantime, entrepreneurs will need to adapt, get resourceful, and look for other ways to provide value. It’s hard because any new stream of revenue will take a lot of groundwork. It is important to think outside the box and believe in yourself. It is a matter of putting effort into a passion.
I think the whole world has taken a hundred steps closer to the virtual world. They have become more receptive to online work. Everyone is now providing services online. The pandemic has helped online businesses a lot. People are using them more than ever and they have scaled up by more than 100 times.